Wednesday, July 24, 2024
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CC grants clearance for Queenstown Bungy acquisition

The Commerce Commission has granted clearance for Queenstown Bungy Limited to acquire Taupo Bungy Limited’s bungy, swing and associated business in Taupo.

In considering Queenstown Bungy’s application, the Commission’s major focus was on whether Queenstown Bungy’s operations in Auckland and Queenstown compete closely with Taupo Bungy’s operations in Taupo.

Chair Anna Rawlings says the Commission is satisfied that the acquisition is unlikely to substantially lessen competition in any New Zealand market.

“We consider that while the merging parties both run bungy jump operations, they are not close competitors as they operate in different regions. So the acquisition is unlikely to materially change the extent of competition in the market.

“We also explored whether Queenstown Bungy would likely have entered the central North Island region with its own bungy operation if the acquisition did not proceed. However, there was no evidence to suggest that Queenstown Bungy would have started its own operation in the region,” says Anna.

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